For those of you who fear having to exit liquid funds due to their unusual fall in one day, note that yesterday bond markets were more stable, and therefore liquid funds made money.
Here’s a list of the same funds that crashed in value on Tuesday, to how they closed on wednesday. They’ve recovered between 0.02% and 0.09%.
| Fund | Jul-17 | Jul-16 | Change | Prev Day Change |
| ING Liquid Fund | 24.6738 | 24.6638 | 0.04% | -0.34% |
| Quantum Liquid Fund | 16.9457 | 16.9308 | 0.09% | -0.28% |
| DWS Insta Cash Plus Fund | 19.7696 | 19.7611 | 0.04% | -0.26% |
| L&T Liquid Fund | 1645.211 | 1644.7143 | 0.03% | -0.26% |
| Kotak Liquid | 2261.222 | 2260.2502 | 0.04% | -0.25% |
| Principal Cash Management Fund | 1165.895 | 1165.4774 | 0.04% | -0.25% |
| Reliance Liquid Fund-Treasury Plan | 2922.926 | 2921.1051 | 0.06% | -0.24% |
| Birla Sun Life Cash Plus | 192.2734 | 192.1657 | 0.06% | -0.23% |
| JPMorgan India Liquid Fund | 14.2078 | 14.2036 | 0.03% | -0.23% |
| HDFC Cash Management Fund | 25.0657 | 25.0565 | 0.04% | -0.23% |
| Religare Invesco Liquid Fund | 1649.653 | 1648.9476 | 0.04% | -0.23% |
| Sundaram Money Fund | 25.3007 | 25.2935 | 0.03% | -0.21% |
| Baroda Pioneer Liquid Fund | 1375.223 | 1374.7201 | 0.04% | -0.21% |
| Taurus Liquid Fund | 1559.093 | 1558.4587 | 0.04% | -0.21% |
| DSP BlackRock Liquidity Fund | 28.3163 | 28.3021 | 0.05% | -0.21% |
| IDBI Liquid Fund | 1287.485 | 1287.0052 | 0.04% | -0.21% |
| UTI- Liquid Fund-Cash Plan | 1903.51 | 1903.0043 | 0.03% | -0.20% |
| Axis Liquid Fund | 1329.715 | 1329.2837 | 0.03% | -0.19% |
| Tata Liquid Fund Plan A | 2215.65 | 2215.0341 | 0.03% | -0.18% |
| Pramerica Liquid Fund | 999.9687 | 999.6694 | 0.03% | -0.18% |
| Birla Sun Life Floating Rate | 159.4973 | 159.4547 | 0.03% | -0.18% |
| JM High Liquidity Fund | 32.7202 | 32.7098 | 0.03% | -0.18% |
| Canara Robeco Liquid-Regular Plan | 1458.891 | 1458.4159 | 0.03% | -0.18% |
| SBI Premier Liquid Fund | 1886.969 | 1886.0524 | 0.05% | -0.17% |
| ICICI Prudential Liquid | 177.563 | 177.5085 | 0.03% | -0.16% |
| 1459.237 | 1458.8483 | 0.03% | -0.16% | |
| LIC NOMURA MF Liquid Fund | 2175.595 | 2174.9464 | 0.03% | -0.16% |
| HDFC Liquid Fund | 23.6759 | 23.6685 | 0.03% | -0.16% |
| BOI AXA Liquid Fund- Regular Plan | 1380.926 | 1380.3935 | 0.04% | -0.16% |
| Edelweiss Liquid | 1184.117 | 1183.8301 | 0.02% | -0.15% |
| MS Liquid Fund | 1179.191 | 1178.8718 | 0.03% | -0.15% |
| BNP Paribas Overnight Fund | 18.4661 | 18.4607 | 0.03% | -0.14% |
| Peerless Liquid Fund | 12.5647 | 12.5597 | 0.04% | -0.13% |
| Templeton India Cash Management Account | 19.4173 | 19.4132 | 0.02% | -0.13% |
| ICICI Prudential Money Market Fund | 166.2499 | 166.1902 | 0.04% | -0.12% |
| Daiwa Liquid Fund | 1340.511 | 1340.0904 | 0.03% | -0.07% |
| Escorts Liquid Plan | 18.5827 | 18.5786 | 0.02% | 0.02% |
| Mirae Asset Liquid Fund | 1224.063 | 1223.7909 | 0.02% | 0.02% |
Today yields have softened further (Thursday) with T-Bills quoting at 8.7% (versus Tuesday’s 9.5%). We should see short term funds (liquid, ultra-short term and bond funds) rebound further.
The point is: Don’t run off in a panic. We’ll see the NAVs return to the pre-RBI announcement values within two weeks, at this rate. Unless, of course, there is more drama to come! (I’ll track this weekly)
